Commonwealth explores interaction between multilateral trade agenda and SDGs.
Against the backdrop of the world’s biggest trade talks, Commonwealth trade ministers and experts will meet in Nairobi to explore the interaction between the multilateral trade agenda and the new global development goals.
The Commonwealth Secretariat and the United Nations Conference on Trade (UNCTAD) are holding two side events on 16 December during the World Trade Organization’s (WTO) tenth ministerial conference (MC10) to address trade and development issues. The WTO is the highest decision-making body on global trade, which meets every two years.
The morning session involves high-level policy discussions on how the African Continental Free Trade Area (CFTA) can help the continent integrate into a development-oriented multilateral trading system. The afternoon session will explore the future of multilateral trade in relation to the 2030 Agenda for Sustainable Development adopted by the international community in September.
“This inaugural WTO ministerial conference in Africa provides an opportunity for the Commonwealth to work closely with its membership to look into effective ways to address trade and development issues. Fundamental changes are taking place in the global trade landscape and it is necessary for the Commonwealth to remain active in this sphere. We will continue to stress the building of productive capacities particularly for small states and LDCs so they can effectively participate in this new trading landscape,” said
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The global community is now tasked with translating the aspirations of the Sustainable Development Goals (SDGs) into practical action, including within the realm of trade policymaking.
During the sessions, participants will consider what difference the SDGs can make to the reform and advancement of the multilateral trading system, how the goals will relate to the trade challenges of small and developing Commonwealth countries and how, based on previous experience, the goals can be more effectively implemented.
They will also consider approaches and options to remove trade barriers in Africa in light of negotiations launched by African countries in June 2015 to create the CFTA in goods and services. Participants will explore how CFTA negotiations could become a catalyst for boosting trade between African countries.
The value, growth and future of Commonwealth trade is documented in the Secretariat’s major trade report, launched during the leaders’ summit in Malta last month. According to a review published by Econmonitor, the report “promotes trade-driven economic growth by providing new data, policy knowhow and best practice examples to empower both traders in the private sector and government policy makers”.
